Crypto’s brutal week ends with a trading halt and a bailout

Times of India LogoTimes of India1 mo ago

Crypto’s brutal week ends with a trading halt and a bailout

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The meltdown in cryptocurrency markets deepened this week, adding to a decline that has wiped away some $2 trillion of market value and leaving market participants uneasy heading into the long Fourth of July weekend.

Last month, Voyager issued a notice of default to Three Arrows on a loan worth roughly $675 million.

It’s actively pursuing recovery from the crypto hedge fund, including through the court-ordered liquidation process in the British Virgin Islands.

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Article Details

Author / Journalist: Bloomberg

Category: Economy

Topics: Crypto Terra Voyager digital ltd Three arrows capital ltd Celsius network Luna

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-02, 13:51:57

News Timezone: GMT +5:00

News Source URL:

Language: English

Reading Time: 4 minutes read

Article Length: 603 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 26414

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About Times of India

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Coverage Areas: India

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